Which of the following best describes the term "expenses"?
A)The cost of assets used in the investing activities of a business.
B)The amount of interest or claim that the owners have in the business.
C)The future economic resources of a business entity.
D)The cost of assets used in the operations of a business.

Question

Quizplus · Accepted Answer

Expenses refer to the cost of assets used in the operations of a business, such as salaries, rent, utilities, and supplies. These costs are subtracted from revenues to determine a company's net income. Option A refers to investing activities, option B refers to equity, and option C refers to assets.

Which of the Following Best Describes the Term "Expenses